Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $65.00 at Morgan Stanley

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by Morgan Stanley from $64.00 to $65.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on RARE. Piper Sandler dropped their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Wedbush reissued a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.93.

Ultragenyx Pharmaceutical Stock Down 2.3 %

RARE opened at $35.16 on Friday. The business has a 50 day moving average price of $36.89 and a two-hundred day moving average price of $42.55. Ultragenyx Pharmaceutical has a 52 week low of $29.59 and a 52 week high of $60.37. The company has a market cap of $3.30 billion, a PE ratio of -5.55 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $145.98 million. During the same quarter last year, the company earned ($2.03) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 73,434 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the completion of the sale, the chief executive officer now owns 641,731 shares of the company’s stock, valued at $27,016,875.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Richard Pinion sold 14,439 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the transaction, the insider now directly owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. This represents a 11.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 over the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently bought and sold shares of RARE. Vanguard Group Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock valued at $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company’s stock valued at $74,419,000 after acquiring an additional 5,400 shares during the last quarter. Deutsche Bank AG grew its position in Ultragenyx Pharmaceutical by 0.5% during the first quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock valued at $61,611,000 after acquiring an additional 8,385 shares during the period. Invesco Ltd. increased its stake in Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after acquiring an additional 25,487 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Ultragenyx Pharmaceutical by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after purchasing an additional 81,667 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.